Treasury’s RI AnchorHome Helps 89 First-Time Homebuyers
Treasury’s RI AnchorHome Helps 89 First-Time Homebuyers
In just over six months, the RI AnchorHome Program and our partner banking institutions have helped 89 Rhode Islanders become first-time homeowners in communities across the state. RI AnchorHome is a Community Deposit Program in partnership with financial institutions.
RI AnchorHome has helped dozens of Rhode Islanders finally achieve their dream of owning their home. We are helping families navigate an increasingly difficult housing market one step at a time because when we invest in housing, we invest in the future of Rhode Island.
Now that a second round of funding been exhausted, the Treasury Team is working to determine next steps for this program over the next few months. Our office will share updates on the program via our website/social media once those have been finalized. For further information regarding the RI AnchorHome Program, please visit https://treasury.ri.gov/programs/anchorhome
Delivering Medical Debt Relief for Rhode Islanders
This week, we announced that an additional $6 million in medical debt, held by over 3,000 Rhode Islanders has been forgiven through the state’s Medical Debt Relief Program.
To date, the program has relieved more than $16.3 million in medical debt, helping more than 9,000 Rhode Islanders. On average, one dollar given to Undue Medical Debt relieves $100 of medical debt. Undue Medical Debt branded envelopes began arriving in the mail at the end of June, letting qualifying individuals know that some or all their debt is gone.
This program is about more than eliminating debt, it’s about giving people peace of mind, restoring financial stability, and ensuring that a medical emergency does not become a lifelong financial burden. We are proud to continue investing in initiatives that improve lives and create greater economic opportunity for all Rhode Islanders.
The State’s Medical Debt Relief Program is not application-based but is source-based. Debts that are held by specific providers and collectors can be cancelled – an individual cannot request for debt relief. Per legislation, individuals that are eligible to qualify for relief must be current Rhode Island residents, and either be four times (400%) or below the federal poverty level (just over $100,000 a year for a family of three) or have medical debt that is 5% or more of their annual income.
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